Royal Bank of Canada Has Lowered Expectations for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX - Get Free Report) had its price objective reduced by analysts at Royal Bank of Canada from $275.00 to $245.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the medical technology company's stock. Royal Bank of Canada's target price would indicate a potential upside of 16.00% from the company's current price.

Several other analysts also recently weighed in on TFX. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research report on Friday. Truist Financial lifted their price objective on shares of Teleflex from $247.00 to $255.00 and gave the company a "hold" rating in a research report on Monday, October 14th. Finally, Stephens increased their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.75.

Teleflex Stock Up 5.0 %

Shares of NYSE:TFX traded up $10.15 during trading on Friday, hitting $211.21. The company's stock had a trading volume of 1,054,990 shares, compared to its average volume of 370,770. Teleflex has a fifty-two week low of $190.49 and a fifty-two week high of $257.85. The company has a market capitalization of $9.95 billion, a PE ratio of 37.92, a P/E/G ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The business has a 50 day moving average price of $239.55 and a two-hundred day moving average price of $223.93.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 earnings per share. As a group, research analysts expect that Teleflex will post 13.97 EPS for the current fiscal year.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.43% of the company's stock.

Hedge Funds Weigh In On Teleflex

Several large investors have recently added to or reduced their stakes in TFX. Janus Henderson Group PLC increased its position in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company's stock worth $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company's stock worth $65,304,000 after purchasing an additional 263,743 shares during the last quarter. Cooke & Bieler LP boosted its holdings in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock valued at $191,989,000 after buying an additional 172,335 shares during the period. Ceredex Value Advisors LLC acquired a new position in Teleflex in the second quarter valued at approximately $25,550,000. Finally, National Bank of Canada FI boosted its position in Teleflex by 1,008.2% during the 2nd quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company's stock valued at $24,388,000 after purchasing an additional 104,935 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.